Truecaller AB: Strong revenue and user growth again

STOCKHOLM, July 18, 2025 /PRNewswire/ --

Interim report January-June 2025

Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, is proud to report an increase in net sales with 9% to SEK 496.4 million (455.9), in constant currencies the increase was 21%. All revenue streams grew in constant currencies, ad revenues with 11%, subscriptions with 45% and Truecaller for Business with 53%. EBITDA excluding incentive costs increased with 20% and the EBITDA margin was 42.6% (38.8%), in constant currencies the increase was approximately 38%. EBITDA including costs for incentive programs increased with 5% and the margin was 34.8% (36.1%), in constant currencies the increase was approximately 24%. During the quarter average number of monthly active users grew with 15 million.

CEO Word:

"I'm happy once again to report that we continue to show strong organic growth trends, as this is the fourth quarter in a row where we've grown both in revenues as well as users. In constant currencies, all revenue streams showed stable growth with ads and premium growth rates increasing compared to the first quarter. We added an incredible 15 million users in this quarter and 55 million users compared to Q2 2024, a growth of 15%, clearly highlighting our relevance in the world.

During this quarter, we surpassed two major milestones; more than 3 million paying subscribers of Truecaller, out of which more than 1 million are on iOS. The average number of subscribers grew by 28% compared to the same period last year and by 8% compared to the previous quarter. The number of iOS subscribers increased by 25 percent in Q2 alone, or more than 50% year-over-year.

Currency effects, primarily the recent substantial strengthening of the Swedish Krona, SEK, had considerable effects on both revenue and profit this quarter. Almost all our revenues are recorded in currencies other than SEK, while only a limited part of our cost base is in foreign currencies. In constant currencies, our net sales grew by approximately 21% while in SEK the growth was 9%. Advertising revenue grew by approximately 11% in constant currencies but decreased by 1% in SEK. Premium revenues grew by approximately 48% in constant currencies and 35% in SEK. Truecaller for Business grew by approximately 53% in constant currencies and by 34% in SEK.

EBITDA excluding incentive costs is estimated to have grown 38% in constant currencies. In SEK the EBITDA growth was 20% and the margin increased to 42.6% compared to 38.8% during the same period the previous year.

Although we did notice some demand softness from the present geopolitical uncertainties in our ads business, we also saw encouraging signs such as a price stabilization for our ads inventory. We continue to focus on strengthening our direct sales capabilities both in terms of our offerings and our organization. When it comes to programmatic advertising we added another eight global demand partners. We have also focused on increasing the average sales volume through different optimisations, something that started to yield good results in the latter part of the quarter. During the quarter, we launched a new ad unit, the Truecaller Masthead. With the Masthead, advertisers can claim a 100% share of voice on the incoming call screen. We also launched Truecaller Play which showcases all our video ad capabilities under one umbrella. We also did a soft launch of our in-house AI recommendations suite that builds dynamic audiences and learns from outcomes. Early tests of this with customers, such as Uber and Bajaj Auto, delivered encouraging results with an uplift in CTRs, CPMs and conversions. All these initiatives are developed in order to create sophistication in our ads offerings which result in gains over time. In terms of geographies, the Middle East and Africa (MEA) region continued to show strong growth but both India and RoW also grew in constant currencies.

Subscription revenue from Truecaller Premium purchases continued to show solid growth, 48% in constant currencies and 35% in SEK. We saw an acceleration in the growth of number of subscribers, particularly on iOS, as well as continued strong revenue trend on both iOS and Android. On iOS, we saw a strong intake of new subscribers resulting in a growth of 25% in the second quarter alone. The trend is steady, and we are now also seeing accelerated growth in India, although all regions continue to develop well when it comes to both subscribers and revenue.

Revenue from Truecaller for Business grew by 53% in constant currencies and 34% in SEK. Growth continues to be driven by strong performance for our entire product portfolio, our Customer Experience (CX) platform Verified Business, Business Messaging and our more recently launched risk products. The risk product 'Number intelligence' is the smallest of the revenue lines within Truecaller for Business but it is now growing in importance with more credit bureaus and BFSI companies seeing the value of the intelligence we can provide with our unique data.

I continue to be optimistic on our growth journey for the years to come with positive trends in user growth, sophistication in our ads capabilities, strong subscriber intake and a business offering with much room for developing new services and integrating deeper with our partners.

Our focus on solving problems in everyday communication for both individuals and businesses continues to remain, with a very exciting roadmap for the years to come. I look forward to growing this incredible company and look forward to the future with excitement!," says Rishit Jhunjhunwala, CEO of Truecaller.

April-June 2025 (Q2)

Comparative figures refer to April-June 2024

• Net sales increased by 9 percent to SEK 496.4m (455.9). Net sales in constant currencies increased by approximately 21 percent.
• EBITDA excluding the costs of incentive programs increased by 20 percent to SEK 211.6m (176.9), equivalent to an EBITDA margin of 42.6 (38.8) percent. In constant currencies the EBITDA increase was approximately 38 percent.
• EBITDA including the costs of incentive programs increased by 5% to SEK 172.8m (164.7), corresponding to an EBITDA margin of 34.8 (36.1) percent. In constant currencies the EBITDA increase was approximately 24 percent.
• Profit after tax was SEK 118.0m (123.0).
• Basic earnings per share was SEK 0.34 (0.35) and diluted earnings per share were SEK 0.34 (0.35).
• The average number of active non-iOS users (MAU) increased by 55.3 million to approximately 426.6 million (371.3).
• Net sales increased by 5 percent in India, by 23 percent in the Middle East and Africa and by 18 percent in the rest of the world.

January-June 2025

Comparative figures refer to January-June 2024

• Net sales increased by 12 percent to SEK 993.3m (883.1). Net sales in constant currencies increased by approximately 20 percent.
• EBITDA excluding the costs of incentive programs increased by 21 percent to SEK 410.2m (339.2), equivalent to an EBITDA margin of 41.3 (38.4) percent. In constant currencies the EBITDA increase was approximately 32 percent.
• EBITDA including the costs of incentive programs increased by 2% to SEK 321.8m (315.7), corresponding to an EBITDA margin of 32.4 (35.8.1) percent. In constant currencies the EBITDA increase was approximately 13 percent.
• Profit after tax was SEK 219.7m (256.1).
• Basic earnings per share was SEK 0.54 (0.74) and diluted earnings per share were SEK 0.64 (0.74).
• Net sales increased by 9 percent in India, by 25 percent in the Middle East and Africa and by 18 percent in the rest of the world.

Presentation of the report

Rishit Jhunjhunwala, CEO and Odd Bolin, CFO presents the report and answers questions in a webcast and conference call on the 18^th of July at 13.00 CEST. The presentation will be held in English.

If you wish to participate via webcast please use the link below.
https://truecaller.events.inderes.com/q2-report-2025

If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.inderes.com/teleconference/?id=50052352

For more information, please contact:
Odd Bolin, CFO
[email protected]

Andreas Frid, Head of IR & Communication
+46 705 29 08 00
[email protected]

This information is information that Truecaller is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at the time stated by the Company's news distributor, Cision, at the publication of this press release.

About Truecaller:
Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 450 million active users. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information, please visit corporate.truecaller.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/truecaller-ab/r/strong-revenue--and-user-growth-again,c4208629

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SOURCE Truecaller AB